After posting decent earnings Monday morning, we see shares of Citigroup (C) pretty much going sideways to a bit lower. The turnover is not heavy, though, and that tells us institutions are not distributing the stock as they did a few short weeks ago.
In fact, the stock has hit a resistance area and may pause a bit after a big 10% move up over the last three weeks.
However, the technicals are pretty strong here, and after a bit of sideways we could see it blast higher toward that $73 mark. That level was rejection back in October, and started the waterfall decline.
Volume levels have risen lately, and relative strength is very impressive. The cloud has just twisted bullish and is starting to open up, which is a strong indicator of higher prices ahead.